Is this an electric shift unit? If so I know that there are issues with the functionality of the shift solenoids. Also the switches in the control go bad as well. I have a 1972 50esl and was worried about getting one because of the non available parts issue so you may want to beware if it is an electric shift parts are scarce.
That 1971 50hp lower unit is a Hydro Electric Shift gearcase and must use the gearlube as I mentioned above in my previous post.